Olean General Hospital Foundation

Nonprofit profile at a glance

EIN
161497087
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Olean, NY, USA
Phone
7163757444
Rating
87
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$7,019,416
Expenses
$3,680,600
Assets
$45,810,107
Liabilities
$85,246

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • STEVEN JACKSON (PRESIDENT)

Highest reported compensation

  • STEVEN JACKSON (PRESIDENT): $167,853 total reported compensation
  • MUHAMMED T JAVED (DIRECTOR): $60,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To develop and generate ongoing philanthropic support for olean general hospital's continued development and growth.

What it reported doing in 2024

See schedule o for a description of the program service accomplishments.mission statement: the mission of the olean general hospital foundation is to develop and generate ongoing philanthropic support for olean general hospital's continued development and growth. Since its inception, the foundation has raised over $63 million from people in our community who care about the mission of our hospital and who take pride in the care that it provides. This goal has remained constant since the inception of the foundation. We are grateful to each and every individual and corporation who has so generously supported our hospital and foundation and who have helped ensure that our hospital is able and equipped to offer exceptional care to the people in our community.as in the past, our foundation was also pleased to support a variety of other programs and services as well as educational programs for our staff.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 83
  • Accountability: 95
  • Sustainability: 88
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 81.1%; rating input score 81
  • Fundraising efficiency: $4.48 raised per $1 spent on fundraising; rating input score 15; 15th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 21st percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 47.6%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 12.45; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 4.6%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 6.3% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 1.4% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 81.1% of spending went to programs
  • Governance: 10 of 11 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3M in reported program spending
  • Leadership: top reported pay $168K · 12 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 15/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.